Mets owner Steve Cohen unveils plans for an $8 billion casino, hotel and music venue near Queens’ Citi Field… but could the hedge fund boss get state approval after being fined $ Paid $1.8 billion for banking and securities fraud?

New York Mets owner and hedge fund owner Steve Cohen has unveiled his $8 billion plans for a casino, hotel and music venue adjacent to the team’s Citi Field in Queens.

The property, named Metropolitan Park after the 61-year-old ball club’s full name, would include 50 acres of green space and access to Flushing Bay.

Additionally, Cohen claims that Metropolitan Park would generate $130 billion in economic impact over the next three decades in an area already surrounded by the US Open Tennis Center, a proposed soccer stadium and Flushing Corona Park.

“It’s time for the world’s greatest city to get the sports and entertainment park it deserves,” Cohen said. “When I bought this team, fans and the community kept saying we had to do better. Metropolitan Park delivers on the promise of a shared space that people not only want to come and enjoy, but that they can actually be proud of.”

But Cohen’s optimism about Metropolitan Park could be premature, as the proposal still needs the green light from Governor Kathy Hochul and the New York State Legislature — both of which are far from certain.

An aerial view of CitiField in Queens, photographed on November 10, 2018

Metropolitan Park will include bars, restaurants, hotels, live music and of course a casino

Senator Jessica Ramos, who represents large parts of Queens, has raised concerns and blocked a vote on the project earlier in May.

“I had a very productive town hall on May 19, which will be the first of many conversations I have with my neighbors,” Ramos said. “My neighbors and I are not currently in a place where it would be appropriate to introduce park alienation legislation.”

In addition, the proposal would also need approval from the state Gaming Commission, which has the authority to allow three casinos in New York City.

Another problem: Cohen’s troubled history with financial regulators.

He was forced to pay a $1.8 billion fine to the federal government in 2013 after pleading guilty to wire and securities fraud — and that admission could jeopardize his background check, which asks applicants to verify their “integrity , honesty, good character and conduct’. reputation.’

Bally’s is interested in building a casino along Donald Trump’s old golf course in the Bronx

Other casino proposals are also on the table in New York City, including one in Times Square, another in Hudson Yards and one for Coney Island.

In addition, gambling operator Bally’s recently purchased Donald Trump’s golf course in the Bronx, where the company is reportedly planning a separate casino.

On the other hand, Cohen’s projections include 10,000 permanent and construction jobs, which could help his lobbying efforts.

Landscape architect Field Operations will design the park, according to Cohen. Previously, the group designed Manhattan’s High Line, as well as Pier 17 at the South Street Seaport.